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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Settlement of the Dispute between the Republic of Guinea and BSG Resources

February 25, 2019

LONDON--(BUSINESS WIRE)--Feb 25, 2019--The Republic of Guinea and Nysco, the 100% shareholder of BSG Resources (“BSGR”) (together “the parties”), jointly announce the settlement of their dispute over mining concessions and licenses in the Republic of Guinea (“Guinea”).

Following this agreement, BSGR relinquishes its claims on blocks 1 and 2 of SIMANDOU and both parties waive all outstanding procedures.

At the request of the Republic of Guinea, a new group of investors (presented by and including Mr. Beny Steinmetz) will exploit the ZOGOTA deposit, in order to export iron ore, according to an accelerated timetable.

The parties are delighted that this agreement opens a new chapter in their relationship that enables the development of a world-class mining project for the benefit of the people of Guinea.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190224005124/en/

CONTACT: For BSGR:

Buchanan

Bobby Morse, +44 (0)20 7466 5000

Senior Partner

BSGR@buchanan.uk.com

KEYWORD: UNITED KINGDOM EUROPE NORTH AMERICA GUINEA AFRICA

INDUSTRY KEYWORD: NATURAL RESOURCES MINING/MINERALS OTHER NATURAL RESOURCES PROFESSIONAL SERVICES LEGAL

SOURCE: BSG Resources

Copyright Business Wire 2019.

PUB: 02/25/2019 02:00 AM/DISC: 02/25/2019 02:01 AM

http://www.businesswire.com/news/home/20190224005124/en